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Jan 17, 2013 9:00am EST
in the pass that's frankly unfathomable. i remember why it went to 5, 6. bank of america is a law firm that is -- it's like -- it looks a lot like a bank because there's tellers, but in the end it's a law firm, associates and partners. the international consumer trends i like, but citi moved a lot. you always want your banks to put on a best face. anyone who went through the conference call -- actually there's more hue mill to goldman. there was a noeshs things are great. i look at these and it's like, well, i'm trying to understand international. this is a bank in flux, citi, i think it's trying to fish out what it is. when it does, the stocks will go higher. >> i think there was a higher expectations, and that may have impacted the number. as you say, just going through the numbers. debt valuation adjustment, 485 million, a billion repositioning charge, legal charges of 1.3 billion, reserve releases, i want only 86 million, 'opposed to an expectation. it will be tenfold that, so you end up with the number, but we'll see. >> -- >> david, would you characterize it as a pandit quarter o
Jan 16, 2013 9:00am EST
, you know, i think there's a lot of things. i think the law of large numbers is a big concern for investors. we've seen that in the past with tech companies like sisco and microsoft. where they lose that luster. i think a lot of investors are concerned about that. we would argue that, look, apple is the greatest technology company we've ever seen. there's still tremendous growth. we've never seen a cycle like technology mobile net. this is a category that will still grow 30% over the next year or two. we think apple will continue to grow earnings at 20%. and the valuation, you know, has nowhere to go but up. one of the keys we'll be watching is gross margins. if the street is right about this turning margins, we see them decelerate, then it's a different story. we just don't buy into that yet. we think the product refresh has put a huge impact on downward margins. next thursday will be a big day, we'll see. >> channing, finally, the second largest weighting in your growth fund. are you adding, subtracting, at what levels would you be aggressive buyers or sellers? >> we added i
Search Results 0 to 1 of about 2